Kirkland Lake, Ontario–(Newsfile Corp. – February 15, 2019) – RJK Explorations Ltd. (TSXV: RJX.A) (“RJK” or the “Company“) has received assay results from the incomplete drill hole that was terminated during the 2018 drill program on its Rolling Pond gold Property located in Central Newfoundland. As reported in a Press Release dated December 24, 2018, the drilling had been terminated after two unsuccessful attempts to complete its first hole of the Program due to ground conditions and drill rig mechanical failure. A total of 271.71m of a planned 450m hole was drilled before the rig had to be demobilized for repair. Due to timing, added costs and challenges of winter drilling in the area, the Program was suspended.
RP18-01A had intersected 81.2m of vuggy quartz, quartz breccia and significant quartz veining beginning at 190.55m with the hole lost in the zone. A portion of RP18-01A was assayed and returned anomalous values of 204 ppb gold over 2.65m from 215-217.65m. A large hydrothermal system is known to exist on the Property and analysis of the core and clay alteration confirms the presence and strength of this system. Additional work and vectoring will be required along the known 1.2 km strike length to identify areas where better gold grades may occur. A program of additional soil geochemistry and ground geophysical surveys will be implemented prior to the continuation of the drill program in the late spring of 2019.
The Company also intends to trench and possibly drill test a newly identified target outlined from field work performed during the fall of 2018. A strong 250m coincident gold in soil and induced polarization/resistivity geophysical anomaly was identified approximately 4.5 km along strike from the main zone to the southeast (See Press Releases dated October 30, 2018 and November 13, 2018). This zone remains open and additional field work will be performed in the area in 2019 to optimize targeting prior to trenching and/or drilling.
Dean Fraser, P.Geo, a qualified person as defined by National Instrument 43-101, is the independent qualified person responsible for reviewing and approving the technical contents of this press release.
All core samples were submitted to AGAT Laboratories in St. John’s, Newfoundland, an ISO 9001 certified and ISO 17025 accredited laboratory. All core samples were submitted for fire-assay gold analysis only. A series of standards and blanks were inserted in the sample stream for QA/QC purposes. All measurements provided in the press release refer to core lengths as measured in the core box.
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Forward Looking Information
This news release includes certain forward-looking statements, which may include, but are not limited to, statements concerning future mineral exploration and property option payments. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions “will”, “anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend”, “propose” and similar expressions. Forward-looking statements involve known and unknown risks and uncertainties that could cause actual results, performance, or achievements to differ materially from those expressed or implied in this news release. Factors that could cause actual results to differ materially from those anticipated in this news release include, but are not limited to, the financial resources of the Corporation being inadequate to carry out its stated plans. RJK assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those reflected in the forward-looking statements except as required by applicable law.
RJK Explorations will be exhibiting at PDAC 2019 Investors Exchange in Toronto, March 3rd – 6th – Booth 3328
Glenn Kasner, President
Telephone: (705) 568-7956
Mobile: (705) 568-7567
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/42865